Tyler Mathisen (Anchor) 00:00.310
all right folks just give you now some exclusive access to something you may not get anywhere else as we are at the yale CEO summit in new york where sarah sitting down with the richest person in europe and one of the richest people in the world
Bernard Arnault (Chairman and CEO) 00:12.310
businesses i think the future is very positive obviously you have always difficult times you have crisis you have geopolitical crisis you have economic crisis and we went through many of them during the last forty years but at the end i am proud that the group has built
Bernard Arnault (Chairman and CEO) 00:40.600
continuously has grown continuously because we are showing something in the world for which the interest of people is constantly growing you know we are part of history of the country where we have some brands i think with tiffany in the US we are part of the US history and in
Bernard Arnault (Chairman and CEO) 01:05.920
france we have some brands that were created around more than five hundred years ago and we are part of france history and very often when i travel to the world i feel myself like a kind of ambassador not only a businessman but i represent countries and i am asked a lot of
Bernard Arnault (Chairman and CEO) 01:34.600
questions about how is this done in france how is this watch is done by louis vuitton in switzerland for instance where we have one of the most incredible producer of watchers in geneva and to give you an example of so difference and and the mix in our activity between high
Bernard Arnault (Chairman and CEO) 02:01.670
technology and history we just bought in geneva in la fabric duton which is a subsidiary producing some of the most beautiful watches in the world machine dating to the eighteenth century because these machines were the only one able to create the type of finishing on this watch
Bernard Arnault (Chairman and CEO) 02:29.160
shoes on the movement that we wanted to to find and we we are at the same time using the latest AI in this factory for supply chain for packaging and and for a lot of things that today does not need really the same type of craftsmanship but i am confident to the future prospects
Bernard Arnault (Chairman and CEO) 03:11.880
of our activities because the more the technology is going the more efficient it appears and it develops the more many companies including LVMH are using it the more people look at the details at the quality and at a lot of aspect of the product that only the hand of a person
Bernard Arnault (Chairman and CEO) 03:41.270
man or woman can do and so i i could give you more details but maybe i don't want to be too long no
Sara Eisen (Anchor) 03:50.680
that's OK i was actually going to ask about AI next and and clearly you you talk about how it can it can work with human craftsmanship how do you how do you think about the transformation of of the way we shop and what we want in a in our AI future
Bernard Arnault (Chairman and CEO) 04:07.050
but the the AI is growing i think is really a form of modern revolution and i think we are only at the beginning but it's like in the past when you have revolution technical revolution they change a lot of things but the history is still there and a lot of our products will not
Bernard Arnault (Chairman and CEO) 04:45.560
be touched in their fabrication by AI there is a big difference in the world between consumer products that you sell in supermarket and that are very necessary and the products of high quality which which is our domain and they can the demand for them can go in parallel and what
Bernard Arnault (Chairman and CEO) 05:11.910
we observe today is since the crisis last big europe